ndia’s Digital Healthcare Market Eyes $37 Billion Revenue by 2030
India’s Digital Healthcare Market Eyes $37 Billion Revenue by 2030, Reports BCG and B Capital
India’s digital healthcare market could generate $37 billion in revenue by 2030, consulting firm Boston Consulting Group and Singapore-based venture capital firm B Capital have said in a joint report.
In 2022, the total topline of $2.7 billion generated by businesses operating in this space represented 1-2% of the country’s overall healthcare market.
This is expected to increase to 7-8% by the end of the decade, as per the joint report, titled ‘A Digital Pill for Revolutionising Healthcare’.
E-pharmacy Leads the Charge: India’s Digital Healthcare Market Set to Expand to $37 Billion
The digital healthcare market comprises six key sub-sectors: epharmacy, ediagnostics, teleconsultation, surgery aggregation, healthcare financing, and fitness and specialty care.
In 2022, epharmacy generated $1.1 billion in revenue, representing 3.5% of the retail pharmacy sector. However, it is expected to grow exponentially, reaching $12 billion with a market share of 12-15% by 2030.
Other sub-sectors are also poised for substantial growth, making India’s digital healthcare landscape a dynamic and promising one.
Digital Transformation Drives India’s Healthcare Sector Toward $37 Billion by 2030
In the context of “patient capital” required by the healthtech sector, emphasizes the importance of maintaining a balance between aggressive selling and the establishment of trust and credibility.
He underscores that a “pull” rather than a “push” approach is essential. Also points out that healthcare has the inherent potential to be highly profitable over time.
B Capital, a globally recognized tech-focused investment firm co-founded by Facebook co-founder Eduardo Saverin, has made strategic investments in India-origin healthtech unicorns such as PharmEasy and Innovaccer, further reinforcing its commitment to the sector.
This transformation reflects a promising and dynamic future for India’s healthcare landscape driven by digital innovation.
